Boris Johnson, the front runner to replace Theresa May as Prime Minister has vowed to leave the EU with or without a deal on 31st October and has promised to keep hold of the money owed to the bloc. Johnson said he would scrap the Irish border backstop and withhold 39 billion pounds owed to the EU until an agreement has been reached. Furthermore, Johnson said withholding the 39 billion settlement will be a ‘great solvent and a great lubricant’ in forcing the EU to offer the U.K. a good deal. Johnson has also been boosted by the latest allegations surrounding Michael Gove who is also in the running for becoming the new Prime Minister.
Furthermore, two Tory leadership candidates have clashed over whether they would shut down Parliament early to force through a no deal Brexit. Esther McVey said the measure was part of a "toolkit" that could be used to ensure Brexit is delivered on time. But Michael Gove said such a move would be "wrong" and contradict "the best traditions of British democracy".
Eleven conservative MPs are now looking to take over from Theresa May and have been laying out their policies on Brexit. They have until 5 pm to submit their policies on Brexit and other issues but need the backing of 8 MPs or they would be eliminated from the process.
Lastly, Jeremy Hunt, another leadership contender, said the EU would be "willing to negotiate" on the Brexit deal if the UK takes the "right approach". Speaking on Sunday, the foreign secretary said he had spoken with German Chancellor Angela Merkel and suggested she was open to looking at new solutions for the Irish border issue in talks. Merkel said she will be willing to look at new proposals put forward by the new Prime Minister.
09:30 - GBP: GDP m/m - forecast at 0.1% from previous 0.1%
09:30 - GBP: Manufacturing production m/m - forecast at -1.1% from previous 0.9%